2012-12-01
2012-12-31
x apple
x sandy

STATION
CNBC 20
KRON (MyNetworkTV) 3
KTVU (FOX) 2
CNNW 1
KGO (ABC) 1
KQED (PBS) 1
KQEH (KQED Plus) 1
KRCB (PBS) 1
LANGUAGE
English 32

Set Clip Length:


likely comes from the defense sector. at a time when china is rising. you see those planes land on that aircraft carrier this week? the middle east is boiling. i don't know. did we really want that big defense budget cut? i mean, maybe nothing more than the decline in spending is the war in afghanistan winds down. saving about half a trillion dollars over the time. maybe more. the areas where the defense job losses take place they look mighty red to me, at least on the electoral map. yes, you'll have to say goodbye to the fabulous 15% dividend rates and the capital gains rates will rise, not as much. the wealthy will pay what they had to pay percentage-wise during the best period for the stock market in my lifetime, the clinton years. i don't want to pay more tax. you don't, either. if we won't necessarily live happily ever after because of that i think we may be able to take -- i might be able to take this pin off before new year's day. wouldn't that be something? get this pin off before new year's day? that's why i need you to watch "meet the press" on sunday. not just because

of china-america capital joins us on this jobs friday. tim, we are being told there could be a murky jobs number because of hurricane sandy. what do you think about that? > > i think the market will dismiss a weaker-than-expected number because of hurricane sandy and the distortions that it has and look more toward next month, or january's report, that we will get. so, i think they will let it slide. but it should be weaker than expected. i think that is expected by the market, so it shouldn't be a surprise. > goldman sachs has a call out that we will see a renaissance in commodities. are you bullish on any particular commodities here? > > i am bullish on the agriculturals, for reasons of which the supply and also the growing drought that we had this past year, the continued conditions that make for dry growing season next year as well. so i think from a supply/demand standpoint, yes, i think agricultural. the other thing i like, commodities in general, is when the fed's buying $85 million a month worth of treasuries, i think you are going to have to like commodities. > what is your play

with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's

in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate analyst in india tracking markets, technology was considered the engine of growth for the country and one of the bright spots for the market. is technology still one of the areas you are tell clients to invest in in india, or what are the sectors you're looking at? >> i think there's two sectors whether you look at india, china, or asia. there's two sectors we like. it's technology, as you said. i think that's one that -- it's a bright gem. you know, it went from, in india, from a bpo outsourcing business and has grown to an innovation business where brands are being developed and real technological gains are being had. the other sector we like is health care. the demand for health care in these markets is just continuing to grow steadily. obviously people are having longer lives, having more disposable income for health care and treat

starbucks in china and the u.s. within two years. "overall, there's going to be coffee available. that'll help you on pricing, so it might be a good time to be expanding." starbucks' expansion plans aren't only meared number of shops. in the last 12 months, its acquired juice company evolution fresh, bakery la boulange, and is about to finalize acquisition of tea company teavanna. tensions remain high in michigan's capitol city, where legislation is about to be passed that could weaken the power of unions. protestors are furious. republican lawmakers moved quickly last week to enact "right to work legislation," allowing workers at unionized companies not to pay dues to the union, which reduces bargaining power right in the uaw's own back yard. the measure has already been approved by both chambers of michigan's legislature, and final enactment could take place tomorrow. republican governor rick snyder supports the legislation. if enacted, it would make michigan the 24th state with right-to-work laws. recent strikes at a california shipping port are over, but concerns of outsourcing p

. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had this number last week. reminds people, again, they've been right down, and up. mcdonald's is one of those things where joe asked me from squawk when we were talking, i said, i think this is a for real term. if they continue to innovate. i may this may not be your cup of tea, burger, but innovation s higher. >> they tried to sell it to consumers as opposed to their extra value menu, which is a little bit hi

a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversin

up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. li

saw that. i do think one thing we can certainly say given that china seems to be stabilizing a bit, we can all discuss europe. greek situation. maybe it's off the front pages for a while. and so if we assume that the jobs picture in the u.s. is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a theory of how i could cause a recession. i would cut back government spending quickly. >> i would raise interest rates to 20%. >> bernanke ought to join the -- look, i think this is what's going to happen. i think it's 50-50 we get a deal. no vacation. no legislation, no vacation. i think that when people get their paycheck at the end of january, they are going to be sho

about china electric demand being strong. remember, they make coal machinery, depending upon how much electric demand there is in china, his orders go up. that's why i think people are surprised the stock eel not down big, given his concerns throughout the near term. >> comments, the buybacks continue. >> now, i begin to say, wait a second. one buyback, maybe -- too much coincidence here. you have the news out of joint global. i think people are starting to say this fourth quarter's an inflection point for china. less worried about inflation, more worried about pro-growth. cummins is a uniquely chinese story. so many truck engines go there. let's keep track of this. >> a lot of people say if you've got gdp growing again and inflation as low as it is, that is the sweet spot, that is where you always want to be. >> india came out with global stuff. coal, i know, we're only used to seeing coal phased out in this country. they love coal in china. i don't want to make a judgment on whether that's -- but they are huge coal plant builders there. huge. >> an important one to watch. we'll talk

? not that long ago we heard very smart short sellers write off both china and europe it was on a year ago that italy and greece would be following in disaster. of course, they subsequently turned out to be the single best places to invest for fixed income in the world. not only did the sky not fall, but you had to do some serious buying to keep up with the others around the world. we have been buying an etf for my travel trust. was there a more uniform agreement than the idea that the euro had to die and the weaker countries were going into a fre depression? we know a ton of countries that could do very well in a low-growth environment. a year ago all the wise guys were telling us to avoid china because it was a house of cards. the course only grew more uniform with the chinese market falling to multiyear lows. but in the last few weeks, china's economy bottomed during the summer as they were focused way too much on beating inflation. now it's become the best performer in the world, and i don't think you've missed the move which is why my trust has been buying an etf that mimics china. fi

the time decorating with a christmas tree and stockings left behind from an earlier expedition. >> china has opened the world's longest high-speed rail line. it runs nearly 1,500 mi. from the country's capital and the north of guanmgzhou, in southern china. the line officially opened earlier this morning. trains on this high-speed online will initially run at 186 mi. per hour with a total travel time of about eight hours. before, the fastest time between the two cities by train was more than 20 hours. the chinese government plans to build a grid of high-speed railways which for east-west lines and for north-south lines by 2020. >> we will be right back. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new v

phone, nokia announced a deal with china-mobile to sell its top lumia smartphone in china. shares of nokia jumped 12.8%. volume was very heavy as shares sit at a seven-month high. meantime, banking stocks were in focus thanks to the job cuts announced at citigroup. bank of america joined in the rally with shares closing with a double-digit handle. with b. of a. finishing the session at $10.46, it's the first close over $10 per share since july 2011. also helping the financial sector: insurance companies. two of them released their estimates of how much hurricane sandy will cost them. travelers figures the storm will cost it $650 million. hartford pegged its storm losses as high as $350 million. analysts say the companies can absorb the impact. both stocks were higher. travelers rallied 4.9%, closing less than one dollar away from a new 52-week high. hartford added 2.9%. drug giant pfizer had encouraging news on an experimental breast cancer drug. with up to $6 billion in potential global sales, the stock rallied. shares jumped 1.9% on heavier than usual volume. while the breast cancer drug

than 2 million in iphone 5s in china just over the last three days. that's the best ever debut for the iphone line in china. apple is china's second biggest market, although it did lose a lot of market share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just below $500. >>> also, the national association for business economics growth in 2013 to come in at 2.1% after growing by 2.2% in 2012. that would continue the same tepid growth that the country has seen since the recession ended back in mid 2009. >>> and the nation is mourning the horrific event of friday in newtown, connecticut. president obama spoke last night about change. >> we can't kol rate this any more. these tragedies must end. and to end them, we must change. we will be told that the causes of such violence are complex, and that is true. no single law, no set of laws can eliminate evil from the world or event every senseless act of violence in our society. >>> and earlier in the day, new york city mayor michael bloomberg called on th

safer way when they manufacture in china and all over the place. >> no. there have been stories about the working conditions in china which is another reason i am glad these jobs are coming here. ruth ruth, you make a good point. i feel good about apple but we also have to change the tax laws so that to reward companies like apple that do bring their manufacturing here and to punish those who keep exploiting the jobs. >> this is "the bill press show." about global warming. they just want to shut it down and go home. ed is calling from frederick maryland. museum >> bill: good morning. exciting issue. from financial regulation, iran that trade-offs are tough. things everyday exploding around the world that leave no shortage for exciting conversations. i want our viewer to understand why things have happened. at the end of the show, you know what has happened, why its happened and more importantly, what's going to happen tomorrow. [ music ] >> this is the "full-court press," "the bill press show," live on your radio and on current tv. >> bill: now 33 minutes a

in this country. we're better than china. meanwhile our energy costs are plummeting courtesy of the cleaner, cheaper fuel, natural gas. so cheap here it can be liquefied in the united states and sold overseas at much lower prices. potential exporter dominion later tonight. that business unimpeded by washington could be brimming with jobs. a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear market versus rising above. and guess what? these enemies of wealth and job creation may get their way and win. yes, to borrow a phrase from my own rant last time we were on the brink of a

would be short yen and long japanese stocks. >> people watching not just january but china. ir ir ir iron oar a lot. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in

got to be christmas time somewhere? christmas eve? this is from taiwan, china. have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed optio

of uninhabited lands between japan and china. japan sent eight fighter jets after a chinese plane was seen near the islands. it was gone by the time they got there. china continues to claim the islands. the islands have been in japanese control for years. japan bought the privately owned islands in september. >>> some are calling it a break-through, north korea making its first successful long range rocket launch but less than 24 hours after liftoff a u.s. official tells cnn the country may not be in full control of the satellite. joining me is cnn contributor and retired u.s. army general spider marks. good morning. >> good morning. >> what does this mean? is this a setback for north korea? >> it's not a setback at all for north korea. north korea successfully launched something into an extra atmospheric orbit, albeit it's not control. they were able to build a three-stage missile and get an object into space. >> here is how leon pa net ta spoke about it. he spoke to erin burnett in afghanistan. >> this is a clear provocation. we've warned them not to do it. we've been very concerned about the

visiting her new grandchild from china. >> officials and sent to an accidental alarm fire at san of the apartment complex that killed three people and injured three others. >> a fire broke out late saturday night in 3000 block of bridgeport court. >> a party save three people were killed were couple and a four year old granddaughter. >> san jose police officer will help with rescue efforts was one of the three people transported to area hospitals after suffering smoke inhalation. >> michael crabtree caught touchdown passes of 49 is 7 yds and finished with career high one under 72 yds, leading this effort cisco 49 a to a second straight nfc west title with a 27-13 victory over arizona cardinals on sunday. >> called a cabinet of a cam slow start to throw for a career best to attend is a charge and two touchdowns as the niners did their part to control the postseason picture is based minnesota knocking off green bay, the 49ers grabbed second seed in the nsc and earn the coveted by week. >> 49ers will not know that play into up to the wild card round of the playoff. >> also the last

consumers, china, india, brazil. let's add i understondonesia to. 3 billion consumers growing in the consumption trends. the growth that will come in front of us in the next 50 years have nothing to do with what has been achieved in the last 50 years. the only difference is that it will be done in those new markets, one, and the specificity of those markets, young people, loving brands, loving sports and becoming rich much sooner compared with what we've been enjoying in other markets. that means attractiveness towards luxury brands starts much sooner in those new markets. >> my thanks to the ceo of ppr. >>> tomorrow morning's key jobs report could move your money even before the opening bell rings. we have our panel of wall street's top market pros giving you a leg up on the ore side of this break. stay with us. we're back in a moment on "the closing bell." americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never

taking share in china, all the big carriers will be selling it and an omg product might be on the way. the market capitalization will still be outsized versus the rest of the market and that i don't like. there's nothing you can do about the rest of the market, right? as we settled three times today, if you want to measure the selloff here, use the 12 days of christmas approach. three nikes, four price lines, eight dells, nine coaches, ten may cy's, 11 ralph laurens, 12 mattells and a partridge and pear tree and it's still a $1 billion company. it goes down $100 billion in cash and plus it's growing. the price to earnings multiple, the apples to apples method so to speak will be the lowest in the whole s&p 500. that can and is happening. valuation will get so cheap that apple will be too compelling for informed people not to own. the company's not going to sell through all of the cash and respective cash and this company is one gigantic atm machine. and guess what? the chart with the nauseating terminology will be meaningless at that point. the technology, not the technicals will agai

.o. of big caterpillar equipment and talk about what's going on in china and i hope we get back to that. you're right that's all we're talking about instead of talking about caterpillar and what you do well as a great company. >> thank you. again, every time i come to the floor it's the hub of our greatness in this country of business. it's why we're here. it's really fun and exciting and let answer get into '13 and get into real things. i'm with you, joe. >> i know, but this deal has to play in peoria. >> it will play. >> compared to what you got in illinois now anything looks good. thanks. >> okay. >>> the executive chef tpz at jpmorgan the bank naming two chief officers to oversee things like anti-moneying. kayla tausche joins us. >> the person to watch everyone watching is looking at jez staly, he was chairman as of july largely viewed as a swank song role that rivals have taken note of. there were discussions over the ceo at legg mason, the baltimore asset manager. the talks fell apart and staly was the top of the short list for the board and recruiters after being serious talks for the

it matters, and it does. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to "squawk box," everybody. in our headlines we're about an hour away from the november jobs report and the numbers are expected to be impacted by sandy. the dow jones forecast is calling for new 80,000 nonfarm jobs. >>> the reuters forecast is calling for 93,000 new jobs. >>> ibm is implementing a significant change to its benefit program. starting next year matching contributions to employees' 401(k) accounts will be given in one lump sum on december 31st. if a worker leaves the company before december 15th, they won't get anything from that

sachs to buy from neutral. citing increased potential for yum's operations in china. although, that's what we talk about all the time. kfc in china. that's the growth in their, i think isn't yum bigger than mcdonald's in terms of total number? >> yeah. >> i think subway is, too. research -- >> they don't even call it kentucky tried anymore. >> kfc. >> and it's really chicken. >> that's uncalled for. what do you think it is, cat? that is uncalled for. >> this is all i'll say. >> tastes like chicken. >> yes, it's chicken! if david novak -- >> taco bell. >> yeah, taco bell. >> is that really meat? is that your next -- >> no. all right. the restaurant -- research in motion, rim shares coming off a seven-month high on news that the u.s. immigrations and customs enforcement agent are going to use the blackberry 10 on a trial basis. that is on news, did you see this, that the agency is going to ditch the iphone in favor -- >> okay, so why? >> i don't know. i just want to say, so blackberry was one of the sponsors of the thing yesterday, at the dealbook conference and they showed off the bl

for antibiotics and steroids. some major issues for yum brands, 44% of its revenues come from china. getting the clearance at this point, very good news, and we're seeing the stock respond accordingly. bob pisani is here on the floor with more. >> good morning. merry christmas, everybody. over the weekend, is there a plan c on the fiscal cliff floating around. the only offer that's really on the table, and i hate to get so simplist simplistic, was the president's offer. he mentioned it at the press conference late friday afternoon, and that's raise taxes on the top 2%. that's basically the offer on the table. there's a lot of people trying to throw in a lot of spending cuts into a so-called plan c, raise the medicare eligibility age from 65 to 67. that's really an afterthought going in right now. the president's offer is the one on the table right now. at this point the choices are getting very, very narrow. i didn't hear do nothing. i didn't hear about a grand bargain. the other big thing over the weekend, i was getting a lot of e-mail about, is when will the treasury department declare the

are not making them here in this country, we know where they are going to be made? >> right. >> china or sweeden or someplace else. >> hopefully we make them here and they become -- we become more energy independent. >> every time during campaign, i must tell you -- peter, we talked about this on the air, romney saying and he spent $95 million$95,000,000 or a billion dollars on renew alan energy. i kept wondering if he would say you are damn right i did. >> there were a lot of jobs created. >> exactly? >> not only in places like california. you and i know that, around the country and florida and in maine and boston where you see individual state leaders taking it uponthems to make these investments as well but that has to continue. we have to be at the forefront of that. >> and as we go as californians californians, we have to to say what happened in michigan is deplorable, what happened in california where there was an initiative and the labor unions got the together and we were able to fight back and defeat that initiative in california. the fight goes o

it will consider an appropriate response. but china, north korea's biggest ally, says a moderate response is needed to avoid further escalation. >>> and software pioneer john mcafee is back in the u.s. after being deported from guatemala. he arrived in miami last night and went to an upscale hotel. it's not clear what if any legal issues he faces in the states. officials in belize want to question him in connection with the murder of a neighbor. so this confusing and bizarre story continues. >> indeed. >>> this could be the biggest news story of the day. the announcement that so many of us, and i put myself in this category, the directionally challenged. this is the news we have been waiting for. here we go. google maps is back for apple's iphone 5. the new google maps app for the iphone was released last night. it comes out three months after apple replaced google maps with its own mapping technology. as many of us know, that was a complete disaster. as we have reported. so now google maps are back on the iphone. it was so bad, apple axed two of their executives because that software was so bad. s

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